Shri Shailesh V. Patel, Ahmedabad V. The Income Tax Officer, Ward-10(4), Ahmedabad

ITA 335/AHD/2014

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 9121 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-03-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2010-2011
• Appeal Filed On: 03-02-2014
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: SAMIR VAKIL
• Keywords: Sale consideration of property below Jantri Value; Fair market value
• Section: 32; 147; 131; 68; 246; 69; 145; 27; 148; 54; 37; 6; 56; 263; 63; 132; 12; 28; 144; 10; 90; 154; 2; 11; 15; 271(1)(b); 139; 92; 50C

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, AHMEDABAD .., , BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER ./ I.T.A. NO.335/AHD/2014 ( / ASSESSMENT YEAR : 2010-11) SHAILESH V.PATEL 6, NEW ALKAPURI SOCIETY GULBAI TEKRA AHMEDABAD / VS. THE ITO\ WARD-10(4) AHMEDABAD $ ./ ./ PAN/GIR NO. : ABBPP 5574 C ( $' / APPELLANT ) .. ( ($' / RESPONDENT ) $') / APPELLANT BY : NONE ($'*) / RESPONDENT BY : MR.SAMIR VAKIL, SR.DR +,*- / DATE OF HEARING 23/02/2017 ./0*- / DATE OF PRONOUNCEMENT 01/ 03/2017 / O R D E R PER PRADIP KUMAR KEDIA, AM: THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST T HE ORDER OF THE COMMISSIONER OF INCOME TAX(APPEALS)-XVI, AHMEDABAD DATED 25/11/2013 FOR THE ASSESSMENT YEAR ASSESSMENT YEAR (AY) 2010-11. 2. THE GROUNDS OF APPEAL RAISED BY THE ASSESSEE RE AD AS UNDER:- 1) A. THE LEARNED COMMISSIONER OF INCOME TAX (APP EALS) ERRED IN CONFIRMING ADDITION OF RS.13,88,842/- MADE BY INCOM E TAX OFFICER ON ITA NO.335/AHD/ 2014 SHAILESH V.PATEL VS. ITO ASST.YEAR 2010-11 - 2 - ACCOUNT OF LONG TERM CAPITAL GAIN IN RESPECT OF SA LE OF TWO PIECES OF LAND LOCATED IN MUMBAI UNDER THE FACTS AND CIRCUMST ANCES OF THE CASE. B. THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS ) FAILED TO APPRECIATE THAT THE APPELLANT HAD NOT RECEIVED ANY CONSIDERATION OVER AND ABOVE WHAT WAS STATED IN THE DOCUMENT EXECUTED BY THE APPELLANT ALONG WITH OTHER CO-OWNERS. 2) A. THE LEARNED COMMISSIONER OF INCOME TAX (A PPEALS) ERRED IN NOT INVOKING THE PROVISION OF SUB SECTION 2 OF SECTION 50C OF THE INCOME TAX OFFICER SO AS TO REFER THE VALUATION TO THE DISTRIC T VALUATION OFFICER TO ASCERTAIN THE FAIR MARKET VALUE OF THE PROPERTY. B. THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS ) DID NOT REFER THE VALUATION OF THE PROPERTY TO THE DISTRICT VALUATION OFFICER IN SPITE OF CONTENTION IN THE APPEAL PROCEEDING. C. THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS ) FAILED TO APPRECIATE THAT THE CONSIDERATION AS PER THE DOCUME NT WAS LESS THAN THE JANTRI VALUATION AND THEREFORE HE MAY REFE R THE MATTER OF VALUATION TO DISTRICT VALUATION OFFICER TO ASCERTAI N THE FAIR MARKET VALUE OF THE PROPERTY. 3. AT THE TIME OF HEARING, NONE APPEARED ON BEHALF OF THE APPELLANT- ASSESSEE. NOTICE OF HEARING WAS SENT TO THE ASSES SEE ON 30/12/2016 FIXING THE DATE OF HEARING ON 03/02/2014 AT THE ADD RESS INDICATED IN COLUMN NO.10. IN THE ABSENCE OF ANY REPRESENTATI ON ON BEHALF OF THE ASSESSEE OR PETITION SEEKING TIME, IT CAN BE SAFEL Y PRESUMED THAT THE ASSESSEE IS NOT SERIOUS IN PURSUING THE APPEAL FILE D. ACCORDINGLY THE ONLY ALTERNATIVE LEFT IS TO DISMISS THE APPEAL OF T HE ASSESSEE IN LIMINE . SUPPORT IS DRAWN FROM THE ORDER OF THE TRIBUNALS IN COMMISSIONER OF ITA NO.335/AHD/ 2014 SHAILESH V.PATEL VS. ITO ASST.YEAR 2010-11 - 3 - INCOME TAX VS. MULTI PLAN INDIA (P)LTD.; 38 ITD 320 (DEL) AND ESTATE OF LATE TUKOJIRAO HOLKA VS. CWT: 223 ITR 480 (M.P.). 4. BEFORE PARTING, IT WOULD BE APPROPRIATE TO ADD THAT IN CASE THE ASSESSEE IS ABLE TO SHOW THAT THERE EXISTED A REASONABLE CAU SE FOR NON- REPRESENTATION ON THE DATE OF HEARING, IT WOULD BE AT LIBERTY IF SO ADVISED TO PRAY FOR A RECALL OF THIS ORDER. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS D ISMISSED IN LIMINE . THIS ORDER PRONOUNCED IN OPEN COURT ON 01/ 03/2017 SD/- SD/- (..) ( ) ( S.S. GODARA ) ( PRADIP KUMAR KEDIA ) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD; DATED 01/ 03 /2017 4..+,.+../ T.C. NAIR, SR. PS !'#$#! / COPY OF THE ORDER FORWARDED TO : 1. $' / THE APPELLANT 2. ($' / THE RESPONDENT. 3. 567- 8- / CONCERNED CIT 4. 8- ( ) / THE CIT(A)-XVI, AHMEDABAD 5. 9:-+67 , 670 , 5 / DR, ITAT, AHMEDABAD 6. <, / GUARD FILE. / BY ORDER, (9-- //TRUE COPY// / ( DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD ITA NO.335/AHD/ 2014 SHAILESH V.PATEL VS. ITO ASST.YEAR 2010-11 - 4 - 1. DATE OF DICTATION ..27.2.17 (COVERED-CASE 38 ITD) 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 27.2.17 3. OTHER MEMBER 4. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.P. S./P.S.. 5. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE D ICTATING MEMBER FOR PRONOUNCEMENT 6. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR.P .S./P.S.1.3.17 7. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 1.3.17 8. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK ... 9. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT RE GISTRAR FOR SIGNATURE ON THE ORDER.. 10. DATE OF DESPATCH OF THE ORDER